Retirement Fund Information

Please follow this link to a google drive folder that contains complete information on how to access/retrieve your retirement funds & general info as well as more detailed PDFs on the retirement plans at the UC and the Safe Harbor plan.

Academic Student Employees (ASEs) are automatically enrolled in a 401a with a 3% contribution rate. You must call in or elect to lower this rate to 0%. It is not mandatory for you to contribute to this plan while you are considered an actively enrolled student. You can change your settings by following the UC At Your Service Link found in the google drive folder. However, the university does not consider ASEs working during Summer Session B to be enrolled students and they are instead classified as part-time employees. According to the IRS Safe Harbor 401(k), employers must make a mandatory contribution of 7% for part-time employees. This is why those working during Summer Session B saw a higher amount deducted from their salary for retirement than usual. http://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Definitions

At our September 30th membership meeting, we had a discussion about adding the removal of Summer Session B mandatory retirement contribution to our list of contract bargaining demands for 2017. In the meantime, please share this plan information widely among your departments so people know what to expect.

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